3 Reasons Retirees Could Be Surprised by the Most Recent 2025 Social Security Cost-of-Living Adjustment (COLA) Forecast

Title: 3 Reasons Retirees Could Be Surprised by the Most Recent 2025 Social Security Cost-of-Living Adjustment (COLA) Forecast

Article Snip: "...The Senior Citizens League increased its 2025 COLA forecast to 2.66% following the most recent inflation reading for April. That's an increase from earlier forecasts of 1.4% in January, 1.75% in February, and 2.6% in April. Still, many retirees may find the latest forecast surprising. Here are three reasons why. ..."

Reference: yahoo.com
2025 Social Security Cost-of-Living Adjustment (COLA) Forecast

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Final 2024 Social Security COLA Estimate Before the Real Thing: 3.2%

Title:

Article Snip: "Last forecast increases slightly while the official cost of living adjustment for next year will be announced on Oct. 12. ...It’s not going to approach 2023’s historically high COLA increase of 8.7%, but the 2024 Social Security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average monthly retiree benefit of $1,790 by $57.30. That’s according to the final COLA forecast of the year, released this morning by The Senior Citizens League’s Mary Johnson, who has a long track record of accurately predicting the following year’s COLA from on her analysis of inflation trends based on monthly Consumer Price Index data. Johnson’s 2024 COLA forecast was at 2.7% as of June but increased to 3% in July and stayed there in August before rising to 3.2% for September. ..."

Reference: 401kspecialistmag.com
2024 Social Security COLA, COLA, 2024 COLA forecast, Average monthly retiree Social Security benefit of $1,790 (2023),

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COLAs and Timing Federal Retirement

Title: COLAs and Timing Federal Retirement

Article Snip: "...For FERS employees who aren’t eligible for a COLA during their first year or more on the annuity roll, their first COLA after becoming eligible will be for the full amount, no matter in which month that eligibility occurs . ..."

Reference: The Federal News Group

How COLA affects Social Security benefits

SSA increases your benefit beginning with the year you reach 62

Title: How COLA affects Social Security benefits

Article Snip: "...“You are eligible for annual cost-of-living benefits increases starting with the year you turn 62,” according to the Social Security Administration publication Your Retirement Benefit: How It’s Figured. “This is true even if you don’t file for benefits until your full retirement age or even age 70.” SSA increases your benefit beginning with the year you reach 62, and benefits are increased yearly to reflect the increase..."

Reference: www.investmentnews.com

Federal Retirees Will Get 1.6% COLA in 2020

Title: Federal Retirees Will Get 1.6% COLA in 2020

Article Snip: "...Retired federal workers will receive a cost of living adjustment of 1.6% to their defined benefit pensions next year..."

Reference: www.govexec.com
COLA, 2020 Federal Retiree COLA,

Connolly reintroduces Equal COLA Act

Title: Equal COLA Act

Article Snip: "...Equal COLA Act. The legislation aims to bring equity to the way the cost-of-living adjustment (COLA) is determined under the Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS)..."

Reference: augustafreepress.com
Equal COLA Act

COLA's: Another FERS Disadvantage (Lower COLA's and Age Delayed)

Title: Federal Annuity and Benefits

Article Snip: "...FERS and FERS Specials Cost-of-Living Adjustments are not provided until age 62, except for disability, survivor benefits, and other special provision retirements. FERS disability retirees get the adjustment, except when they are receiving a disability annuity based on 60 percent of their high-3 average salary. Also, under FERS, if you have a CSRS component, the component is subject to the CSRS COLA calculation. FERS survivors receive the FERS increase on their entire annuity, even where component service is involved..."

Reference: www.opm.gov
CSRS vs FERS, COLA,

COLA Shortchanges FERS Retirees

Title: COLA, Largest Since 2012 for CSRS Retirees and Social Security Recipients, Shortchanges FERS Retirees

Article Snip: "...Unfortunately, hundreds of thousands of FERS retirees will be wondering why they are only receiving a 2 percent COLA when the relevant measure of consumer prices increased by 2.8 percent. That’s due to the bargain struck in Congress in the 1980s when FERS was created, which limits COLAs to 2 percent when consumer prices increase between 2 and 3 percent. But that was the wrong policy then, as it is now. It prevents FERS annuities from keeping up with inflation, which is the whole point of a COLA. It is past time for Congress to ensure FERS retirees receive a full COLA each year. “Retirees already receive COLAs that fail to represent how seniors spend their money. COLAs are currently based on the CPI-W..."

Reference: www.narfe.org
CSRS vs FERS, COLA,

FERS and CSRS COLAS

Title: COLAS Now and Maybe Then

Article Snip: "...There’s one big difference between CSRS and FERS when it comes to the payment of COLAs. CSRS retirees receive COLAs regardless of the age at which they retire. With one exception, FERS retirees only begin receiving them when they reach age 62..."

Reference: www.fedweek.com
COLA, Federal Employees Retirement System (FERS), CSRS,

2% COLA for Federal Retirees in 2018

Title: 2% COLA for Federal Retirees in 2018

Article Snip: "...COLA for federal annuities is determined in reference to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is calculated by economists and statisticians with the Bureau of Labor Statistics (BLS). The CPI-W is the current index used for measuring increases in the prices of consumer goods such as food and beverages, housing, clothing, and gasoline..."

Reference: www.fedsmith.com
2018 Federal Retiree COLA, COLA,

FAQ on Social Security COLAs: AARP shares what, when, how, why

Title: FAQ on Social Security COLAs: AARP shares what, when, how, why

Article Snip: "...COLAs currently understate the cost of living for the elderly, because they are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which only measures the spending of families who make most of their income from wage earners or clerical workers. It excludes families whose main sources of income are pensions and Social Security..."

Reference: www.usatoday.com
2016 COLA (Social Security),